Hai An Transport And Stevedoring (HAH) H2 2025 earnings summary

Executive summary

• Total assets increased to VND 8.71 trillion as of 31 December 2025, up from VND 7.36 trillion at the previous year-end.

• Net profit after tax for 2025 reached VND 1.40 trillion, a 75% increase year-over-year.

• Revenue for the year was VND 5.09 trillion, up 27% from the prior year.

• Significant capital increase through bond conversion and new share issuance during the year.

Financial highlights

• Net revenue for 2025: VND 5.09 trillion (2024: VND 3.99 trillion).

• Net profit after tax: VND 1.40 trillion (2024: VND 800 billion).

• Basic EPS: VND 6,830 (2024: VND 3,773, restated).

• Cash and cash equivalents at year-end: VND 534 billion (2024: VND 922 billion).

• Gross margin improved to 38% from 32% year-over-year.

Outlook and guidance

• Continued investment in fleet expansion and port infrastructure.

• Ongoing focus on business cooperation contracts and joint ventures to drive growth.

• Management expects stable demand in core shipping and stevedoring segments.